Accounting for Managers

Accounting for Managers Student Name Institution Course Professor Date Question 1 A. Total Variable Cost Variable Cost per Unit=146,520 / 8,800=16.65 Total Variable Cost at 8,900 units=16.65*8,900 =148,185 B. Total Cost Total cost at 8,900 units=148,185 + 219,296 =367,481 C. Average Variable Cost per Unit Average Variable Cost per Unit=148,185/8,900=16.65 D. Average Fixed Cost per Unit Average Fixed Cost per Unit=219,296/8,900=24.64 E. Average Total Cost per Unit Average Total Cost per Unit=367,481/8,900=41.29 Question 2 Given Data: * Direct materials= $59,400 * Direct labor hours= 1,254 DLHs * The direct labour wage rate = $11 per DLH * Number of units completed = 3,300 units * Pre-determined overhead rate = $37 per DLH 1. Calculation of Direct Labor Cost Direct Labor Cost=Direct labor-hours * Direct labour wage rate Direct Labor Cost=1,254*11=$13,794 2. Calculation of Manufacturing Overhead Cost “Manufacturing Overhead Cost” =Direct labor-hours*Predetermined overhead rate =1,254*37=$46,398 3. Calculation of Total Job Cost Total Job Cost=”Direct Materials + Direct Labor Cost+Manufacturing Overhead Cost” =59,400+13,794+46,398 =$119,592 4. Calculation of Unit Product Cost Unit Product Cost=Total Job Cost/Number of Units Completed ​ Unit Product Cost=119,592/3,300=$36.24 Question 3 Total Units to Account For Total Units = Beginning WIP + Units Started =700+23,000 =23,700 Step 2: Units Completed and Transferred Out “Units Completed and Transferred Out”=Total Units−Ending WIP =23,700−200 =23,500 Step 3: Calculation of Equivalent Units of Production A. For Materials Equivalent Units for Materials=Units Completed and Transferred Out+ (Ending WIP*Percent Complete with respect to Materials) =23,500+ (200*80%) =23,500+160 =23,660 B. For Conversion Costs Equivalent Units for Conversion=Units Completed and Transferred Out+ (Ending WIP* % Complete with respect to Conversion) =23,500+ (200*40%) =23,500+80 =23,580 Question 4 Given Data: * Work in process, August 1: ...